House Didn t Sell? Let s Get it Sold Fast!

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1 House Didn t Sell? Let s Get it Sold Fast! Presented by Patrick Parker Realty

2 My House Didn t Sell Now What? If your house has just come off the market and hasn't sold, don't be discouraged. The reason it didn't sell may have nothing to do with your home or the market. In reality, your home may have been one of the more desirable properties for sale. If your listing has expired and you still want results, before you put your home back on the market, take a step back and review your situation. Your first step should be to hire a competent Real Estate Agent who gives you honest information and advice on price, condition and market time, not an agent who asks you what price you want or need and says "sign here." How to Hire an Agent Experienced Real Estate Agents treat each client as though their business depends on the client's success. Because it does. So when interviewing an Agent you want to look for experience. Look for these qualities in your next Agent: Offers solutions based on previous results Details your custom marketing plan Anticipates problems before they occur Enjoys solid reputations with other agents Has strong negotiation techniques Understands the complexities of changing real estate markets Provides statistics and crucial market data Professionally guides clients through closing Case Study Partnership with Results Colby Sambrotto, founder and former chief operating officer of ForSalebyOwner.com, spent six months trying to sell his luxury New York City condo himself through online listings and classified ads. He then turned it over to a Real Estate Agent where the two-bedroom pad fetched $2.15 million. The experienced Agent, Jesse Buckler, said he told Mr. Sambrotto the apartment was priced too low. It just wasn t drawing the right buyers. After attracting multiple offers, Mr. Sambrotto s condo went into contract. It closed at $150,000 more than the original asking price covering well more than Mr. Buckler s standard commission.

3 What Went Wrong? You put your home up for sale and it simply didn t sell. Undoubtedly, this has created a lot of stress, inconvenience and anxiety for you and your family. Perhaps you already bought another home. Maybe you needed this home sold because of a job change. Regardless of the reason, it s certainly a burden! The first thing to do is take a step back and analyze the situation. Try to assess what factors led to your home not selling. Review your previous selling plan and you'll discover that an expired listing usually reflects a problem in one or more of these four major areas. CAUTION! Say goodbye to any Real Estate Agent using old, traditional methods to sell your home. They just don't work in today's market! It s a fact that today s buyers are web-savvy and most buyers search for Real Estate online. Make sure your Real Estate Agent has sound Internet Marketing experience. 9 out of 10 buyers Four Common buy with Problem the help Areas of a Real Estate Agent. 1. Teamwork Your home is a major financial investment, and your relationship with your Agent should be a full partnership where your needs and wishes are heard, and you receive detailed and dependable feedback on the progress of your sale. How well did this occur the last time you had your home up for sale? 2. Pricing Did price work for or against you? The "right" price depends on market conditions, competition and the condition of your home. Pricing it too high is as dangerous as pricing it too low. If your home doesn't compare favorably with others in the price range you've set, you won't be taken seriously by prospects or agents. You'll get the facts when you see the statistics! To help you establish a realistic selling price for your home, ask your agent to provide you with an up-to-date competitive market analysis. 3. Condition of Your Home Is your house someone else's idea of a dream home? When buyers enter are they inspired? Do they think, "I love this house!" Remember, the decision to buy a home is based on emotion, not logic. A house that presents well, sells for the best price because it outshines the competition. 4. Marketing One of the first steps in your marketing plan involves finding an Agent who will best represent you. When interviewing agents, test and compare their knowledge and ask each to demonstrate how they will market your home to buyers. Also compare how much money each spends on advertising the homes s/he lists, in what media (websites, social media, newspaper, magazine, etc.) and the effectiveness of one medium over the other. It's not just how much they spend, but how they spend it.

4 The Importance of Online Marketing To be competitive in today's marketplace, Agents who use new and innovative, non-traditional marketing approaches are the ones who are getting more homes sold fast and for top dollar. Imagine the Internet as a vast ocean of information; standing at the edge and throwing a random piece of marketing about your home in probably won't do you much good. Yes, your home will be "on the Internet" but it will be highly unlikely to be found by a homebuyer. A better tactic would be to ask: Where do local homebuyers go online to find homes? An Agent who knows how to answer this question is the Agent who will generate the greatest interest in your home. Brokers who Blog generate 67% more leads than those who don t. How Buyers Find Homes 85% Online Presence = More Buyers 85% of Home Buyers find their next home through a Real Estate Agent. Real Estate Agents and Brokers who have a greater online presence are more easily found. Your Online Marketing Plan Experienced Real Estate Agents know where to go to attract the widest audience of potential, qualified buyers. Ask your Agent for a detailed marketing plan that should include the following Online channels. Entry into Multiple Listing Service (MLS) Listing presence on the Broker website Realtor.com Enhanced Listing exposure Online listings on syndicated websites Extensive Social Media Marketing Company Blog 90%

5 Pricing Your House To Sell Buyers are Out There... And They Will Come! Before you put your house back on the Market remember, a Real Estate Agent can give you upto-date information on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. In fact, a 2011 Home Sellers study reports that the median sales price of an Agent-Assisted home was 27% higher than one for sale by owner. Pricing is one of the most important aspects of selling your home and it requires the extensive market knowledge that only a Real Estate professional can bring. The more realistic your price is to market value, the quicker your house will sell. Competitive Market Analysis The best price can only be determined by testing the market and challenging the competition. The market dictates value based on current conditions. Only a Real Estate Agent has the tools and resources needed to pull, analyze and apply this data effectively. The Benefit of Right Pricing Right pricing clearly works to your benefit by resulting in a premium selling price in the shortest time. Pricing right means more qualified buyers are viewing your property, you will not lose money by chasing the market down and you will avoid the stigma of being a stale $ listing. Obtaining Top Dollar A Word About For Sale By Owner (FSBO) Considering going FSBO? Consider this Analysts have stated that FSBO s believe their homes should fetch more than buyers are offering. On the other hand, buyers believe that FSBO properties are overpriced. This is where a Real Estate Agent s expertise in pricing your house to sell is invaluable. 500K 400K +27% $348K $ In 2011, the typical FSBO home in Bradley Beach and surrounding areas sold for $357,927 compared to $490,308 for Agent- Assisted home sales. $357K FSBO Median Sale Price Agent-Assisted Median Sale Price +27% $490K 300K $254K 200K 100K 0K Median New Jersey Home Sale Price Median Bradley Beach Home Sale Price Source: Onboard Informatics, 2011

6 About Patrick Parker Realty Patrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach is your local market leader. We understand the demands of a changing real estate market and avail ourselves of the latest industry information and tools to ensure excellent results. Our seasoned Real Estate Agents are committed to providing all of our clients, from first time sellers to veteran real estate investors, quality and friendly service. We walk you through every step of the sale process offering the guidance, feedback, and expertise needed to ensure your complete satisfaction Patrick Parker Realty All rights reserved Patrick Parker Realty 624 Main Street Bradley Beach, NJ [email protected]